- Smart money wallets raised PLUME exposure by 56% in 30 days, now holding 2.8 million tokens, signaling heightened market confidence.
- Plume surpassed Ethereum in RWA wallet holders, reaching 166,892 wallets and accounting for nearly half of the market’s tokenized asset users.
- Technical indicators show a falling wedge breakout forming, with a potential 40% upside if PLUME clears resistance near the 50-day average.
Smart money wallets have sharply increased their exposure to PLUME in the past month. Data from Nansen shows that these wallets, which include funds and early adopters, raised their holdings by 56%. Collectively, they now control 2.8 million PLUME tokens. This trend often signals possible price moves, as these investors tend to conduct deeper research before allocating capital.
At the same time, Plume has strengthened its presence in the real-world asset sector. Data from RWA.xyz confirms that the number of RWA holders on Plume has grown sixteen times since June. The total has now reached 166,892 unique wallets, overtaking Ethereum in user count. Currently, Plume accounts for nearly half of all RWA wallet holders across the market, highlighting the rapid adoption of tokenized financial products.
Institutional recognition emerges
Institutional attention toward Plume also appears to be growing. Grayscale, one of the largest digital asset managers, recently added PLUME to its list of assets under consideration. This does not guarantee the creation of a new product but signals that institutions are acknowledging Plume’s role in the expanding RWA ecosystem. This recognition could influence broader investor interest and strengthen its standing in the market.
From a technical perspective, PLUME has shown signs of a potential reversal. After peaking at $0.209 in May, the token dropped 63% to $0.076 in June. Price action has since formed a double bottom, followed by a rebound to $0.12 and a period of consolidation.
Momentum indicators turning bullish
Recent sessions revealed a falling wedge pattern with resistance converging near $0.100, aligning with the 50-day moving average. A move above this level can put PLUME on the footing to gain 40% to reach the $0.13 mark. The above indicators indicate an improvement, as the 20-day mean moving average crossed above the 50-day, forming a golden cross signal, and the RSI is rising after hitting lows.
These indicators point to a potentially bullish set of conditions, but on the whole, the market mood is depressed. The crypto market capitalization shrank by seven percent in the past day due to insecurity in macroeconomic policies.
